Unemployment Ticks Up to 8.3%

by Ryan on August 3, 2012

in Economy,Election 2012,Politics

The Labor Department’s July jobs report saw unemployment tick up to 8.3% last month. Even worse, the more complete U6 unemployment statistic rose to 15%!  There were a few new hires, but also plenty of people dropping out of the work force altogether.  Manufacturing shrank, but so did black and Hispanic unemployment.  But, it’s evident that the economy is still stalling, with no real robust growth foreseeable without major policy changes.

With only three more jobs reports until Election Day (including one on November 2nd), this couldn’t be much worse for the President’s message.  The facts and the narrative are undeniable:  Obama’s economic program has manifestly not worked.  Those “failed policies” of the past Obama likes to attack turn out to work much better than Obama’s brave new world.  Heck, even the loathed George W. Bush saw 52 consecutive months of job growth before the government-induced financial panic — you know, those terrible days of $1.80 gas and around 5.6% unemployment that the Obama team wants to leave behind.

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